HO CHI MINH CITY, Vietnam and SHANGHAI, China - June 16, 2010 - Cisco today announced a collaboration with M&C Corporation one of the leading property developers in Vietnam, to explore how their combined technologies and innovations can help transform properties in Vietnam into sustainable and connected communities.
This collaboration, validated through the announcement of a memorandum of understanding between Cisco and M&C Corporation at the Shanghai World Expo 2010, will see the two companies discuss the planned implementation of Cisco's Smart+Connected Communities solutions for M&C's strategic developments as a precursor to integrating these technologies into other developments across the country. The first implementation of Cisco's Smart+Connected Communities solutions is expected to be at M&C's flagship project, Saigon M&C Tower. A luxurious, 41-storey development with 150,000 square meters of ground floor area in the center of Ho Chi Minh City, the Saigon M&C Tower, once completed, will be the most technologically advanced building in Vietnam.
"Over the next five years, around 700 million people will be added to the world's cities, and by 2050, at least 100 new cities will be inhabited by more than a million residents. This urbanization presents a number of great prospects. The cities of the 21st century will be defined by Internet access and broadband, with the ability to connect virtually anything to the network: cars, hospitals, buildings, energy, home appliances and schools. We are excited by the opportunities this presents for our community, and we are committed to working with M&C Corporation to develop the infrastructure for Vietnam's cities of the future," said Mr. Lee Chiang Toh, general director of Cisco in Vietnam.
Cisco and M&C Corporation will explore how Cisco technologies and solutions can transform key developments by M&C Corporation in Ho Chi Minh City into economically, socially and environmentally sustainable communities using the network as a platform for collaboration – which will explore how M&C Corporation can upgrade its core network and information technology platforms for a connected community.
"We are excited that the memorandum of understanding with Cisco reaffirms our commitment to work with the leader in networking technologies and solutions, as we work together to transform our business, communities and country. Our collaboration will showcase both M&C Corporation and Vietnam's forward thinking initiatives on the importance of the network as a platform for modern day living," said Mr. Huy Hoang, senior vice president of Operation, M&C Corporation.
Cisco will also share best practices of its global Smart+Connected Communities developments with M&C Corporation as the two companies investigate the feasibility of these solutions as a catalyst to changing the way the community lives, works, plays and learns. As the first step, Cisco will showcase the concept of a Connected Life using Cisco Smart+Connected Communities solutions in the strategic M&C development selected for this transformative model. As part of this collaboration, Cisco intends to share its expertise in cloud computing and its data center strategy as they work with M&C Corporation to build on their organization's success.
Cisco's strategy of a connected community uses the network as platform for sustainability and while addressing the opportunities present in Vietnam as a result of rapid urbanization. Through this model, Cisco is helping various cities, towns and villages in the world change the way they are designed, built and managed.
About M&C Corporation
M&C Corporation is one of the leading real estate developers in Vietnam. The Company focuses on high end mixed used and resort developments in strategic locations throughout Vietnam. The Company's flagship is the Saigon M&C Tower, a two towers, 41 stories river view ultra luxurious mixed used development in CDB in HCM City. The development is being built by the world's leading General Contractor, Bouygues Construction and will be completed in Q4 2011. The property will become one of the highest priced real estate in Vietnam.
In addition, M&C Corporation is also developing several luxury mixed used properties in downtown locations in both HCMC and Hanoi City as well as over total 450 ha of high end beach resorts in Ba Ria, Nha Trang and Phu Quoc.